Hello there,

Educational loans and personal loans are typically granted for essential purposes like education, healthcare, or business. Taking a loan specifically for enjoying parties is not advisable , and here's why:

1. No Long-Term Value

• Parties are short-term experiences and do not generate future returns.

• Unlike education or business investments, they don’t help you build assets or skills.
  
  2. High Interest Rates

• Personal loans have high interest rates (typically 10–20% or more).

• You may end up paying much more than the actual party expenses.
  
  3. Credit Score Risk

• If you're unable to repay the loan on time, it can damage your credit score , affecting future eligibility for serious loans (education, home, vehicle).
  
  4. Better Alternatives

• Save gradually for such experiences.

• Attend free or low-cost events.

• Host small gatherings within budget.
  
  Recommendation:

Focus on responsible financial planning. If you're a student or early in your career, prioritize saving and building a secure financial base first.

I hope this answer helps you. If you have more queries then feel free to ask. We will be happy to assist you.

Thank You and wishing you a bright future ahead.